The startup plans to position itself in the D2C space by bringing innovative, new-age e-commerce and retail experience to its customers. The company is combining real-world ‘Indic Object’ products that narrate stories of India’s Traditions, Culture, Heritage & Achievements, and Experiences with the convenience of e-commerce, seamlessly through a “Phygital” experience.
Mr. Sunil Jalihal, please tell us about your experience as the Founder & CEO of Indic Inspirations.
Doing a startup that has such a powerful impact on India’s Softpwoer and Artisanal Earnings is so satisfying after doing technology startups and working in large technology companies. Creating an ecosystem to get investors’ and customers’ interest in the cultural enterprises sector has been a happy challenge. Its time has come! With increase in national pride and India’s rapid progress this field and its impact will grow.
How did you come up with the idea of creating such a platform where you can engage the handcrafted community in India?
After working in the technology field we wanted to do something with a more significant social impact and yet that has big business opportunities – for India’s Designers, Artisans, and SMEs. India has 3000 crafts and 60% of the world’s artisans with a meagre 2% share of the $48 B market for handcrafted goods. Something had to be done about it. India has been a master storyteller for ages – with that skill being eroded in teh last couple of centuries. We decided to bring that back and narrate stories of India’s Traditions, Culture, Heritage & Achievements through Indic Objects that are rendered through India’s Arts & Crafts and Artisanal Engineering. We created 40+ collections narrating stories of India’s Mythology, History, Geography, Prowess in Maths & Science – Shunya, Yoga, Ayurveda, etc. And also Modern India and its Institutions – like ISRO, National Defence Academy, etc.
What challenges did you face as a startup, and how did you reach your current point?
Challenges are typically related to getting interests of consumers and investors to look at the “new” things that we are doing with good design, quality, packaging and distribution. Getting consumers to see our collections and their relevance in their lives and the rich stories they can narrate through their purchases.
What are your promotional strategies? How do you aim to be in the next 5 years?
We do a lot of digital marketing activities – social media promotions, influencer marketing, PR and appropriate go to market for each product collection. e.g. we launched our Mission Mangal Yug Board Game which we developed in honour of India’s Mangalyaan Mission, with Inter University Center for Astronomy & Astrophysics (IUCAA) and with the Bored Game Company, at Board Game Cafe’s etc. Each product/collection straddles different target groups by interests of consumers. We plan to grow our company 5 x in revenues this FY and to a 100 Cr company in 4 years.
How do you bridge the gap between the buyer and the seller? What strategies do you follow to ensure their engagement on your platform?
Lots of stories, blogs, videos to narrate stories of our products. We put them out on social media, email marketing and WhatsApp. We give designs to our artisans get them done, buy them at a fair price with predictable business to them and then sell thr products through our online store, our phygital store in Pune and to corporates.
How did you finance your business goal at the initial stages?
Initially bootstrapped and funded through Friends & Family and then through Angel investors from India, Singapore & USA.
This article is drafted by Prittle Prattle News in the form of an Interview.